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VOL. 123 | NO. 250 | Tuesday, December 23, 2008

UTHSC to Cut 200 Jobs

• Mill Services to lose 18

Memphis businesses and institutions are continuing to shed jobs, with 200 job cuts on the way at the University of Tennessee Health Science Center and 18 jobs cuts at Memphis Mill Services.

Public Comment Period Open for Constitutional Offices

Now that Republican lawmakers have grilled several applicants for Tennessee’s state constitutional offices of treasurer, comptroller and secretary of state, legislators are encouraging the public to provide feedback about the candidates and the process.

Luminetx Sues Former Execs

Editor’s Note: On Oct. 9, 2009, it was announced that Roxane Bischofberger and Luminetx Corp. settled their dispute amicably on terms agreeable to both sides, and all claims and counterclaims have been dismissed. The litigation was resolved pursuant to a confidential settlement.

Commercial Real Estate Sales Down 18 Percent

A familiar theme in the commercial real estate market continued in November as a couple of high-dollar transactions kept the month out of the doldrums. Not surprisingly, though, those numbers didn’t do much to salvage an otherwise dismal year.

Southland’s Business Volume Up 35 Percent

Troy Keeping is doing something right at Southland Park Gaming & Racing, or maybe he’s just “lucky that way,” as a company slogan says.

Local Weather
Memphis, TN
Mostly Cloudy
Wind: from the South at 11.5 gusting to 17.3 mph
Humidity: 94%


The R.S.V.P. Program is collecting old cell phones for use as 911 emergency phones for senior citizens and victims of domestic abuse. Phones and batteries may be dropped off through Dec. 31 at the Aging Commission of the Mid-South, 2670 Union Extended, Suite 1000. The office is open from 8 a.m. to 4:30 p.m. Monday through Friday. If you have 10 or more phones to drop off, you may call Joanne Lowe at 515-2084 for pickup.

more events »

Developers Ask for Bailout as Massive Debt Looms

With a record amount of commercial real-estate debt coming due, some of the country's biggest property developers have become the latest to go hat-in-hand to the government for assistance.

Where’d the Bailout Money Go? Shhhh, It’s a Secret

WASHINGTON (AP) – Think you could borrow money from a bank without saying what you were going to do with it? Well, apparently when banks borrow from you, they don’t feel the same need to say how the money will be spent.

AP Study Finds $1.6B Went to Bailed-Out Bank Execs

Banks that have their hands out in Washington this year were handing out multimillion-dollar rewards to their executives last year.

Final Holiday Shopping Weekend Keeps Retailers Edgy

CHICAGO (AP) – The deals were there and, by most accounts, so were the shoppers. But at the close of the final holiday shopping weekend, consumers confessed they were still nervous about buying.

Central Church Makes Strategic Land Acquisition

20 acres in Collierville
Sale Amount: $1.8 Million
Sale Date: Dec. 11, 2008
Central Church Inc. has bought a 20.9-acre parcel of vacant land directly behind its 2005 Winchester Blvd. location in Collierville for $1.8 million from the Marion L. Waldrup Sr. Revocable Living Trust, Frederick T. Stukenborg, Trustee.

Court OKs Sale of Neuberger Berman to Employees

NEW YORK (AP) - A bankruptcy judge Monday approved the sale of Lehman Brothers Holdings Inc.'s prized investment management unit to a group of managers and employees.

Toyota Projects First Loss in Company's History

NAGOYA, Japan (AP) - Toyota Motor Corp. said Monday it will report the first operating loss in 70 years, acknowledging that after a decade of rapid growth it can no longer escape the slowdown plaguing the global auto industry.

AIG Sells Hartford Steam Boiler for $742 Million

CHARLOTTE, N.C. (AP) - American International Group Inc. said Monday that it will sell its Hartford Steam Boiler unit to German reinsurer Munich Re for $742 million as the embattled New York-based insurer divests itself of units to pay back a U.S. government bailout loan.

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PROPERTY SALES 78 78 13,921
MORTGAGES 93 93 16,098
BUILDING PERMITS 242 242 28,995
BANKRUPTCIES 59 59 8,985

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